The Business Times
business-time-50
SUBSCRIBERS

Bank Negara unable to stem ringgit's plunge against other currencies

google-preferred-sourceAdd BT as a preferred source
Published Wed, Nov 30, 2016 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    Kuala Lumpur

    BANK Negara Malaysia's (BNM) intervention in the currency market may have partially checked the ringgit's fall against the US dollar, but it has not halted the beleaguered unit's headlong plunge against other major and regional currencies including the Singapore dollar.

    Market economist Suresh Ramanathan suggested "drastic policy moves" are required at this point including the liberalisation of the capital account.

    Ringgit

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    Visitors at the KL Tower. Industry observers say inbound trip cancellations have surged to approximately 5,000 in the past month.

    Malaysia tourism hit by fuel shock; tour prices may jump 50%

    A residential building hit by an air strike in Teheran. Unless Iran collapses, we must foresee that an injured state will renew every effort to rebuild and strike back, says the writer.

    The fog of the Iran war

    Chinese Foreign Minister Wang Yi stopped short of explicitly naming the US or Israel as aggressors, a telling omission from a country that otherwise speaks with little diplomatic timidity.

    Beijing’s calculated silence on the Iran war 

    Foreign institutional and individual investors trading via licensed platforms in Vietnam will face a 0.1% tax on transaction value.

    Vietnam sets low bar for crypto taxes to pull trading onshore

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More